374.35 Certified check; contracts.
Each person submitting a bid or proposal shall file with the bid or proposal a certified check in an amount prescribed in the specifications of the commission for the building, to be retained as liquidated damages in case of failure to enter into a contract if the bidder is awarded the contract.
All contracts shall be in writing and made in the name of the county and the city and shall be executed in their behalf by the officers empowered by law or charter to execute the contracts. All persons awarded building contracts shall furnish bonds as required by state law relating to contracts for public improvements. The bonds shall run to the county and the city.
Official Publication of the State of Minnesota
Revisor of Statutes